DAEX: HYBRID CYPTOCURRENCY EXCHANGE AND CLEARING PLATFORM

cryptoboss12 (40)in #cryptocurrency • 6 years ago

The rate at which cryptocurrency market is growing is quite astounding which keeps increasing day after day since when the likes of bitcoin and Ethereum have been launched into the market. Subsequent to these cryptocurrencies mentioned, there are about over a million cryptocurrencies currently in the market on different trading or exchange sites with quite a lot of them bringing in profits for users that invests in them, traders that exchange them and platforms that makes these exchanges possible.

The crypto exchange platforms currently available in the market are centralized and decentralized exchanges which both have disadvantages that make their usage strenuous to users. The centralized exchanges are prone to hackings since they store the funds of their users at a venue and cannot operate on its own unlike decentralized which distributes them and operates its own distributed ledger technology although on the decentralized exchanges, transactions occurs slowly with low trading and clearing cost.

To help balance these challenges faced by the available types of exchanges present in the crypto market and make trading more enjoyable for users is the exact reason why the DAEX platform was created using self built blockchain technology on the basis of distributed ledger technology to make an hybrid exchange endowed with clearing services.

What is the DAEX platform?

The Digital Asset Exchange platform is a blockchain technology ecosystem that comes with both decentralized and centralized exchanges and offers clearing solutions for centralized exchanges which is built on the basis of distributed ledger technology.

Why use the DAEX platform?

The DAEX platform offers an amazing and novel idea of making available clearing services that is founded upon the distributed ledger technology, centralized exchanges and wallets of users. The basis of this platform is the clearing service it offers which is a special kind of agreement condition that makes transactions of cryptocurrencies to be achieved smoothly and then stored on the ledger of the technology where it is then shared using smart contracts.

This platform also provides a decentralized marketplace to protect the assets of users as it links wallets to distinct private keys and trading occurs upon the activation of smart contracts by the distributed ledger which in turn creates a peer to peer environment with middle men completely eliminated.

The platform also provides crypto clearing services for other crypto currency exchanges with the ability for them to use features offered by the DAEX platform and also the implementation of DAEX wallet to store cryptocurrencies while also acting as a clearing chain for exchanges.

Benefit of the DAEX platform

The platform helps users have confidence in trading their assets as they are guaranteed that these assets are safe and free from any form of tampering.
The platform ensures maximum security to its users by making sure they pass basic requirements needed as well as storing their assets on the blockchain with only them having access to it.
Users do not have to worry whenever they misplace their private keys as it can be recovered for them by the platform through the implementation of multiple part private keys.

Token detail
The token used by this platform is known as DAX and is to be used in the payment of transactional fees such as clearing fees, exchange trade matching fees and also in the raising of funds to bring to possibility the solution the DAEX platform offers.

In conclusion, the DAEX platform will merge the advantages of centralized and decentralized exchanges while eliminating their disadvantages and simultaneously including clearing services to add value to the crypto market.